Dec 4, 2012 7:00am PST
cuts to go back to the clinton era rates for the wealthiest americans. maybe that means finding a really creative tax reform that eliminates deductions almost entirely for the wealthy. these are possible see teas. it's hard for me to imagine that either side is really hoping to go over the cliff at this point because they both know what it means for the economy and they are both worried about making that responsibility. at this point it doesn't make any sense to suggest that you're the one who is going to blink because that's going to put you sort of in the underposition of the negotiations. >> let me switch subjects completely because this is sort of the provocative headline. new york city mayor bloomberg called hillary clinton and said you should be my successor as mayor. how do you think that conversation went? i think being a mayor of new york city gives you an opportunity to imagine things that are possible but not in real life. i can imagine how hillary clinton would be enticed to take on that smaller stage after her staging as the nation and the world for the last decade.
Dec 3, 2012 6:00am PST
the federal budget deficit. he knows something about something. he was around when clinton -- remember that economy? okay. he said i wish president obama and the democrats would explain to the nation the federal budget deficit isn't the major problem and deficit reduction shouldn't be the major goal. problem is lack of good jobs and the goal must to be revive both. deficit reduction leads us away from jobs and growth. the reason the fiscal cliff is dangerous is because it's too much deficit reduction too quickly that would suck demand out of the economy. more jobs and growth will help the deficit. recall the '90s when the clinton administration balanced the budget because of faster job growth than anybody expected bringing in more tax revenues than anyone had forecast. europe offers the same lesson in reverse. thank you. as jim says, every time we talk about this, they keep taking the wrong -- lindsey graham said we're going to be greece. yeah, if we do what you want! the best way to generate jobs and growth is
Dec 4, 2012 6:00am PST
of to clinton era tax rates and the reagan tax rates -- why don't we just go back to the old way of doing things -- >> stephanie: exactly. >> caller: because the rich -- we had billionaires with all of those taxes -- >> stephanie: that's right. absolutely. charlie cristenson said that this morning. the fact that there is all this hysteria over oh no we might have to go to the low 30s percent range. [ screaming ] [♪ "world news tonight" theme ♪] >> stephanie: all right. chris there is a lot of discussion tab who is flabbergasting who? >> yeah. >> stephanie: republicans are working to quiet rumblings, and may have a newly reported doomsday plan. give a little keep a lot. avoid blame for the fiscal cliff. good luck. the bill would go to the floor, the republicans would vote present, allowing democratic votes to carry it to passage, the bill would be send to the white house and then put into law. obama has been unequivocal over the fact that the top earners tax rate must return to the clinton era. he can introduce a tax plan that will accomplish all of his revenue
Dec 4, 2012 5:00pm EST
. >> mark zandi said returning to clinton-era tax rates would hurt the economy but is necessary to get the deficit under control. his comments came at a forum and also bush administration lawrence lindsay and clinton white house chief of staff. >> thank you so much and thank you chairman bachus for turning us and turn it over to peter cook who will moderate our tax panel on tax reform. >> i got a feeling you have to head back to the hill. we hope to come up with some answers and ideas from this panel. we have -- we'll write them down. i'll hand them to your staffer. you hear the mission. we have to come up with some ideas that can pass congress and meet with everyone's approval, so no small task. there are some new faces at the table and again, we want to welcome all of you and go around the table and introduce at least our new faces. we have got the brookings institution who has done a lot on fiscal issues. we have the lindsay group, former economic adviser to president bush. welcome. we have the chairman for the center of american progress. former chief of staff of bill clinton. john